What is a North Carolina Preneed Establishment License Bond?
Know the importance of this surety bond for your business and how to easily get one!
What is a Preneed Establishment License Bond?
In the State of North Carolina, every funeral establishment that is applying for a license is required to submit a surety bond to the North Carolina Board of Funeral Service.
The purpose of the surety bond is to ensure the compliance of the preneed funeral establishment to the relative laws of the state when performing services such as selling preneed funeral contracts.
If the licensed funeral establishment causes harm to another person (ex. preneed contract purchaser, preneed contract purchaser’s beneficiary, or legal representative) by violating any of the laws and rules that govern preneed funeral establishments in North Carolina, the said aggrieved person will be compensated.
The compensation will be done through a bond claim that will be filed by the Obligee of the surety bond.
What is a Preneed Establishment License Bond amount?
The bond amount is $50,000.
If you have a stellar credit score, you will be eligible for a low bond premium, or pay just 1% of the bond amount!
Do you want to know your bond premium right now? Get your FREE SURETY BOND QUOTE RIGHT HERE!
How can I get a Preneed Establishment License Bond?
You can easily get this surety bond from us! We will guide you through the entire process. We’ll make sure that you will understand what you are getting into.
Here’s how to get bonded:
- You have to send an application to us. If you are ready to do that now, you may APPLY HERE!
- After we have received your application, we will ask you to submit the necessary information needed for the underwriting process. These are the following:
- Your financial capability
- Your business or job performance history
- Your credit score
An expert underwriter will carefully evaluate all three to attain the best credit decision possible. To avoid any delay, the information that you should submit should be organized and concise.
- Your surety bond will be issued and sent to you!
What are the surety bond conditions?
- The surety bond should be issued by a surety bond agent or company that is authorized to conduct business in the State of North Carolina
- The surety bond should be made payable to the North Carolina Board of Funeral Service
- The licensed preneed funeral establishment must obey the provisions of Article 13D of the North Carolina General Statutes as well as the rules and regulations of the North Carolina Board of Funeral Service
- If the licensed preneed funeral establishment commits a violation, the aggrieved party will be eligible to file a claim against the bond